Digital Twin is a near-real-time digital image about the historical and current behavior of a physical object or process that helps optimize business performance.
Scope of the Report:Digital Twin is first used for Aerospaceæ&æDefense, but it can be used for Automotiveæ&æTransportation, MachineæManufacturing, Energyæ&æUtilities, and Other industry. MachineæManufacturing took up about 38.5% of the global total in 2017.
China, Japan, India and S. Korea, etc. are now the key developing market of Digital Twin in the future while they are all just at the beginning of digital twin technology. There are few vendors to have digital twin technology, and the Chinese market is still much smaller than the USA. Chinese AVIC have signed an agreement with French Dassault Systmes to develop the digital twin in Jun. 2017.
The global Digital Twin Technology market is valued at 1880 million USD in 2018 and is expected to reach 8480 million USD by the end of 2024, growing at a CAGR of 35.1% between 2019 and 2024.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Digital Twin Technology.
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Digital Twin Technology market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Digital Twin Technology market by product type and applications/end industries.
Market Segment by Companies, this report covers General Electric
PTC
Siemens
Dassault Systmes
IBM Corporation
ANSYS
Microsoft Corporation
Oracle Corporation
Market Segment by Regions, regional analysis covers North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers Parts Twin
Product Twin
Process Twin
System Twin
Market Segment by Applications, can be divided into Aerospace & Defense
Automotive & Transportation
Machine Manufacturing
Energy & Utilities
Others
Frequently Asked Questions
The base year for the study has been considered 2019, historic year 2014 and 2018, the forecast period considered is from 2020 to 2027. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. The study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
Market is segmented on the basis:
- By Type
- By Application
- By Region
- By Country
- By Manufacturer
The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
